Credit unions are for everyone, but not everyone can belong to a given credit union. The members of each credit union must share a “common bond”, such as being employed at the same workplace, belonging to the same church or fraternal organization, or living in the same neighborhood. Members of Commodore Perry Federal Credit Union must either live, work, worship, or attend school in Ottawa County, or be an immediate family member of an existing member.
Being a member of Commodore Perry Federal Credit Union requires you to have at least $5.00 in shares (savings) at all times during your membership.
Why become a member?
Because credit unions are not-for-profit financial cooperatives, they can operate solely to meet the needs of their members. Credit unions offer a variety of savings and lending services based on membership needs.
Credit unions are governed by their members, for the benefit of the members, each having an equal voice in the operation of the credit union. The membership annually elects unpaid, volunteer officers and directors who establish the policies under which the credit union will operate. Officials must be from within the credit union’s membership. Voting is under democratic principles, each member having one vote, regardless of how much money a member has in shares.
When you become a member, you’re not a customer, you’re an owner!